USD/JPY extends range trade, cautious mood prevails ahead of US jobs report The pair is extending rangebound trade for the second straight session, caution prevails ahead of US NFP data.
Prior to today's market closure, UJ recorded a low at 129.520 before a move upside. Expected a fall out at my rejection zone (130.050-129.920). Expecting a rollover to 129.350's before the NFP data for June drops!!! NB: Red BOx; Rejection zone
We are shorting USDJPY and looking at the following parameters: USDJPY SELL @ 126.897 TP: 125.567 SL: 127.470
USDJPY is in a downtrend. As we predicted last week, price action made lower lows. Currently, the price has made a new lower lows and it's pulling back to previous levels. The optimal level to sell would be a zone 127.500 - 127.600. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
4H timeframe price is continuing to downtrend. Creating a range, we want to sell high. Fibonacci range 78.6% - 88.6% is the discount area. Entry is based on multi-timeframe analysis + institutional move + fib zone. If price continues to go beyond previous low, will update on new idea as the trade has left without us.
Break below 21-EMA, upside remains capped at 5-DMA. Price action is below 200H MA and GMMA shows bearish shift on the intraday charts.
USDJPY expecting a short position , 1st correction the supply zone and then a drop cause the 4H TF is still bearish
The correlation of 5Y USD Bond and USDJPY is diminishing. This is like decoupling scenario, and that allows a good correction for the pair. Just view the historical movement, and one can observe it is not a bad tool to predict movements. For now, I suspect we will see 125.57 test and perhaps even lower short-term.
Market already broke a structure of higher highs and higher lows, and went above the point at which it broke that structure, now we are waiting for a retracement to Supply and POC zone, and forecast price to go down. Entry: 130.66 Invalidation: 131.395 Target: 126:334
No change in view. I am inclined to add to the existing short @ 129.40 around 129.75. Further I will increase SELL @ 130.50-130.70 for now. The overall view is to correct back to 125.57 coming weeks. we are still quite overbought and on the monthly chart this is even more severe and we need at least a move back below 122.50 to reduce the pressure.
The overall view is still a lower USDJPY in time. I suspect we may see a move towards 121.17-123.57 somewhere long-term basis. Medium-term for now I see 125.17 as a possibility. the strategy is SELL @ 129.40 current and add 130.50-130.70 and 131.80-132.00 when seen. Of course small increments only until we are at the higher levels. For now small leverage to...
Confluences 1. Made a Daily Lower low 2. Broke the key level and now retesting it 3. Rejections on 131.000 Major psychological level
We have recovered a bit from the lows and attempting higher once again. As I had mentioned, when taking back all positions, I would consider selling again above 129.50 - 129.6 again. I might in fact start @ 129.20-129.40 and increase above 130.50. That is the strategy for now, and the profit order then would be placed @ 126.57.
I have liquidated all switching to GBPUSD for now. I feel better value. For USDJPY strategy is SELL @ 129.60 and add SELL @ 130.45 again.
No change in view. The pattern is building for a move down. We got Moon phase start indicating a turn lower, and stochastic is negative plus over bought situation. The latter very extreme on all fronts. For now, we still are SELL @ 130.00-130.50 and add more above 131.60. The profit level can be done in stages, perhaps @ 127.87 and 126.57 for now. My side, ...
I just wanted to added further analysis using MOON phase. Moon phase is useful tool as it predicts changes to market condition. we are in fact influenced by everything around us, and the moon phase is one of them. we are a WHITE or open moon and this predicts the change of trend to down. So even considering the overbought state of the pair, the cycle will...
No change in view. The pair is remaining above 130.00 and for some this seems worrying... however, all what is needed some large offloading and then the ball will start rolling :) anyway, without jokes, we are really overextended and one should analyze the historical path with current period, and one will observe clearly we will correct. of course, no one...